Cinemark (NYSE:CNK)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research note issued on Tuesday, February 20th. They currently have a $38.00 target price on the stock, down from their previous target price of $40.00. Wedbush’s price target would indicate a potential downside of 6.15% from the company’s previous close.
Other analysts have also recently issued reports about the stock. Royal Bank of Canada upgraded shares of Cinemark from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $33.91 to $40.00 in a report on Wednesday, January 10th. B. Riley reiterated a “buy” rating and issued a $47.00 target price on shares of Cinemark in a research note on Tuesday, December 5th. MKM Partners lowered their target price on shares of Cinemark to $44.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Zacks Investment Research upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Morgan Stanley lifted their target price on shares of Cinemark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $42.46.
Cinemark (NYSE CNK) traded down $0.10 during trading hours on Tuesday, hitting $40.49. 757,865 shares of the stock were exchanged, compared to its average volume of 1,543,569. Cinemark has a twelve month low of $32.03 and a twelve month high of $44.84. The company has a market cap of $4,720.00, a PE ratio of 21.54, a P/E/G ratio of 1.16 and a beta of 0.94. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 1.45.
In other Cinemark news, insider Valmir Fernandes sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $43.59, for a total transaction of $261,540.00. Following the completion of the transaction, the insider now directly owns 103,582 shares of the company’s stock, valued at approximately $4,515,139.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tom Owens sold 9,213 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $36.00, for a total transaction of $331,668.00. Following the transaction, the executive vice president now directly owns 42,722 shares of the company’s stock, valued at $1,537,992. The disclosure for this sale can be found here. Insiders have sold a total of 314,913 shares of company stock valued at $11,511,279 over the last three months. 9.10% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in shares of Cinemark during the 3rd quarter valued at approximately $454,000. State of Alaska Department of Revenue purchased a new position in shares of Cinemark during the 4th quarter valued at approximately $219,000. Mork Capital Management LLC purchased a new position in shares of Cinemark during the 4th quarter valued at approximately $992,000. Jupiter Asset Management Ltd. increased its holdings in shares of Cinemark by 11.1% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 299,841 shares of the company’s stock valued at $10,857,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Aperio Group LLC increased its holdings in shares of Cinemark by 34.2% during the 3rd quarter. Aperio Group LLC now owns 42,818 shares of the company’s stock valued at $1,550,000 after purchasing an additional 10,905 shares in the last quarter. 93.97% of the stock is owned by hedge funds and other institutional investors.
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Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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